Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
VRS looking interesting here for quick play
The real reason commodities are tumbling
JOHN HEINZL
September 10, 2008 at 6:00 AM EDT
To hear Donald Coxe tell it, the commodity selloff ripping through Canada's stock market is no accident. It is the result of a deliberate, brilliantly executed plan hatched at the highest levels of the U.S. Federal Reserve and Treasury.
Mr. Coxe is no paranoid conspiracy theorist. As the chairman and chief strategist of Harris Investment Management in Chicago, he is one of the most respected investment authorities in North America. He also happens to have lost about 10 per cent of his personal wealth in the commodity rout, which came at the worst possible time for his Coxe Commodity Strategy Fund that started trading in June.
“This has done more damage to my personal wealth than anything in the last 20 years,” he said in an interview yesterday. But he has too much respect for how the U.S. authorities engineered the collapse in commodities – a move he said was necessary to shore up the global financial system – to be bitter.
“My attitude is, goddamn it, they're good … it was brilliant.”
To understand why commodities are plunging now – the S&P/TSX plummeted another 488 points yesterday – you have to go back to mid-July, when the U.S. Federal Reserve and Treasury first announced steps to support mortgage giants Fannie Mae and Freddie Mac.
The move, which ultimately led to the Treasury taking control of Fannie and Freddie this week, touched off a chain-reaction of market events that culminated with the wrenching decline in commodities.
According to Mr. Coxe, the Fed's ultimate goal was to trigger a rally in financial stocks, which would, in theory, help banks hammered by the credit crisis raise fresh capital and repair their balance sheets. To accomplish this, the decision to support Fannie and Freddie was deliberately announced on a Sunday, which had the effect of maximizing the reaction from thinly traded financial stocks on overseas markets.
Because many hedge funds were using massive leverage to short financials and go long on commodities, when North American markets opened and banks initially rallied, the funds were forced to cover their short positions.
At the same time, the U.S. dollar was rallying because the risk of holding Fannie and Freddie paper had diminished. The rising dollar, in turn, made commodities less attractive, giving funds that were already scrambling to cover their financial shorts another reason to dump oil, grains and other commodities.
The losses were swift and dramatic. On the Friday before the July 11 announcement, crude oil closed at $145.18 a barrel. Over the following five days, it plunged 11 per cent. “Leverage was being unwound dramatically,” Mr. Coxe said on a conference call last week. “We had a true panic.”
As oil and other commodities were tumbling, fears about the slowing global economy were mounting, giving resources another push downhill. This was also in keeping with the Fed's wishes, because lower commodity prices would help quell fears about inflation.
Mr. Coxe has no proof that the Fed and Treasury acted in concert to boost financials and sink commodities. He is basing his assertions on conversations with hedge fund managers and on years of watching financial markets. “There's no doubt whatever in my mind” about what happened, he says.
The future is less certain, however. Now that Freddie and Fannie have been nationalized, the credit crisis is still very much alive and financial stocks are looking as shaky as ever. As for commodities, once the current storm passes, Mr. Coxe is confident they will recover.
COV hurting again .... guess investors want to see results as in sales and nothing is happening!!!
ENA hitting new lows ...
looks like butting head with big boys in same arena is not impressing investors
ENA hitting new lows ...
looks like butting head with big boys in same arena is not impressing investors
FNM nice bounce today
CBS halts no help
ENA collapse
Not obligatory to include link but thanks anyway! I agree oil will pop with all that hurricane activity. Looking to short it again afterward.
Not obligatory to include link but thanks anyway! I agree oil will pop with all that hurricane activity. Looking to short it again afterward.
Thxs OU, it's weather underground, I should of included the link.
http://www.wunderground.com/
Oil will probably get a nice pop if Ike strengthens back up after passing over Cuba.
Very active season so far-
Yes, I was just wondering about that as I read about Ike's arrival in oil country. I may have to switch to long from short ever so briefly.
Great graphics btw!
Another oil futures play coming up again it looks like,Ike headed right for all those oil rigs off New Orleans.
They just had one blow through there and dodged the bullet, I wonder how there luck is holding out if they get another one back to back.
HFD, HND, HOD, and HGD are shorts all looking good!
CBS at 52 week low like many TSX pennies.
prolly nothing, but VAV volume picking up again ...
3 Months Close Prices
Date Ex : Sym Open High Low Close Chg Vol #Tr Bid Ask
2008-09-03 V : VAV 0.015 0.015 0.015 0.015 0.00 202,000 3 0.015 0.02
2008-09-02 V : VAV 0.015 0.015 0.015 0.015 0.00 144,000 3 0.015 0.02
2008-08-29 V : VAV 0.015 0.02
2008-08-28 V : VAV 0.015 0.02 0.015 0.015 0.00 207,500 9 0.015 0.02
2008-08-27 V : VAV 0.015 0.015 0.015 0.015 0.00 2,500 2 0.015 0.02
2008-08-26 V : VAV 0.015 0.015 0.015 0.015 -0.005 30,600 4 0.015 0.02
2008-08-25 V : VAV 0.02 0.02 0.02 0.02 0.005 1,000 1 0.015 0.02
2008-08-22 V : VAV 0.015 0.015 0.015 0.015 -0.005 30,000 2 0.015 0.02
2008-08-21 V : VAV 0.015 0.02
2008-08-20 V : VAV 0.015 0.02 0.015 0.02 0.005 127,500 7 0.015 0.02
2008-08-19 V : VAV 0.015 0.015 0.015 0.015 0.00 95,149 11 0.015 0.02
2008-08-18 V : VAV 0.015 0.02
2008-08-15 V : VAV 0.015 0.02
2008-08-14 V : VAV 0.015 0.015 0.015 0.015 0.00 73,600 5 0.015 0.02
2008-08-13 V : VAV 0.015 0.015 0.015 0.015 0.00 59,000 3 0.015 0.02
2008-08-12 V : VAV 0.015 0.02
2008-08-11 V : VAV 0.015 0.015 0.015 0.015 0.00 21,000 3 0.015 0.02
2008-08-08 V : VAV 0.015 0.02
2008-08-07 V : VAV 0.015 0.02
2008-08-06 V : VAV 0.015 0.015 0.015 0.015 0.00 15,500 3 0.015 0.02
2008-08-05 V : VAV 0.015 0.015 0.015 0.015 0.00 20,000 2 0.015 0.02
2008-08-01 V : VAV 0.015 0.015 0.015 0.015 0.00 50,000 2 0.015 0.02
2008-07-31 V : VAV 0.015 0.015 0.015 0.015 0.00 1,000 1 0.015 0.02
2008-07-30 V : VAV 0.015 0.02 0.015 0.015 0.00 36,603 5 0.015 0.02
2008-07-29 V : VAV 0.015 0.02
2008-07-28 V : VAV 0.02 0.02 0.015 0.015 -0.005 158,500 6 0.015 0.02
2008-07-25 V : VAV 0.02 0.02 0.02 0.02 0.00 229,000 3 0.015 0.02
2008-07-24 V : VAV 0.02 0.02 0.02 0.02 0.00 25,000 1 0.015 0.02
2008-07-23 V : VAV 0.02 0.02 0.015 0.02 0.00 216,000 6 0.015 0.02
2008-07-22 V : VAV 0.02 0.02 0.02 0.02 0.005 245,000 5 0.015 0.02
2008-07-21 V : VAV 0.02 0.02 0.015 0.015 -0.005 750,000 13 0.015 0.02
2008-07-18 V : VAV 0.02 0.025
2008-07-17 V : VAV 0.02 0.02 0.02 0.02 0.00 645,000 10 0.02 0.025
2008-07-16 V : VAV 0.025 0.025 0.02 0.02 0.00 76,000 3 0.02 0.025
2008-07-15 V : VAV 0.02 0.02 0.02 0.02 0.00 40,000 1 0.02 0.025
2008-07-14 V : VAV 0.02 0.02 0.02 0.02 0.00 39,000 2 0.02 0.025
2008-07-11 V : VAV 0.02 0.025
2008-07-10 V : VAV 0.02 0.025
2008-07-09 V : VAV 0.02 0.02 0.02 0.02 -0.005 106,000 3 0.02 0.025
2008-07-08 V : VAV 0.025 0.025 0.025 0.025 0.00 44,000 4 0.02 0.025
2008-07-07 V : VAV 0.02 0.025
2008-07-04 V : VAV 0.02 0.025
2008-07-03 V : VAV 0.02 0.025
2008-07-02 V : VAV 0.025 0.025 0.025 0.025 0.005 50,000 2 0.02 0.025
2008-06-30 V : VAV 0.02 0.02 0.02 0.02 -0.005 30,500 2 0.02 0.025
2008-06-27 V : VAV 0.02 0.025 0.02 0.025 0.005 70,000 3 0.02 0.025
2008-06-26 V : VAV 0.02 0.025
2008-06-25 V : VAV 0.02 0.025
2008-06-24 V : VAV 0.02 0.02 0.02 0.02 0.00 10,001 2 0.02 0.025
2008-06-23 V : VAV 0.02 0.02 0.02 0.02 -0.005 39,000 3 0.02 0.025
2008-06-20 V : VAV 0.025 0.025 0.02 0.025 0.005 210,000 8 0.02 0.025
2008-06-19 V : VAV 0.02 0.02 0.02 0.02 -0.005 22,002 3 0.02 0.025
2008-06-18 V : VAV 0.025 0.025 0.025 0.025 0.00 17,900 3 0.02 0.025
2008-06-17 V : VAV 0.025 0.025 0.02 0.025 0.005 281,000 9 0.025 0.03
2008-06-16 V : VAV 0.02 0.025 0.02 0.02 -0.005 29,000 5 0.025 0.03
2008-06-13 V : VAV 0.025 0.03 0.025 0.025 -0.005 150,000 5 0.02 0.03
2008-06-12 V : VAV 0.025 0.03 0.02 0.03 0.01 169,000 11 0.025 0.03
2008-06-11 V : VAV 0.02 0.02 0.02 0.02 -0.005 10,000 1 0.02 0.025
2008-06-10 V : VAV 0.02 0.025
2008-06-09 V : VAV 0.02 0.025 0.02 0.025 0.005 27,600 3 0.02 0.025
2008-06-06 V : VAV 0.02 0.025 0.02 0.02 -0.005 200,000 5 0.02 0.03
2008-06-05 V : VAV 0.025 0.025 0.025 0.025 0.00 221,000 4 0.02 0.025
BMO buying up SYZ for the CEO for cancellation.
Sylogist arranges share buyback, CEO increases holdings
2008-08-27 15:57 ET - News Release
Mr. Jim Wilson reports
SYLOGIST LTD. ANNOUNCES NORMAL COURSE ISSUER BID AND INSIDER PURCHASES
Sylogist Ltd. is making a normal course issuer bid (NCIB). The TSX Venture Exchange has accepted Sylogist's notice of intention to have a NCIB in place. The purchases pursuant to the NCIB will be for cancellation. Sylogist believes that from time to time the market price of the Sylogist common shares may not reflect their underlying value and that, at such times, the purchase of common shares for cancellation will increase the proportionate interest of, and be advantageous to, all remaining holders of common shares. Any purchases made by Sylogist will also afford increased liquidity to those holders of common shares of Sylogist who may wish to dispose of their common shares.
On Aug. 27, 2008, there were 17,995,239 common shares outstanding and the public float was 12,396,738 common shares. Under the NCIB, Sylogist may purchase up to 1,239,674 common shares, which is 10 per cent of the public float. Sylogist, through its broker at BMO Nesbitt Burns, will purchase the common shares on the open market through the facilities of the TSX-V. The price which Sylogist will pay for any common shares purchased will be the prevailing market price of such common shares on the TSX-V at the time of purchase. Decisions regarding purchases of common shares pursuant to the NCIB will be made by Sylogist.
The NCIB will commence on Sept. 3, 2008, and will terminate on Sept. 12, 2009, or at such earlier times as the NCIB is completed or terminated at the option of Sylogist.
In addition, Jim Wilson, its president, chief executive officer and a director of the company, has, through a series of transactions since May of this year, acquired ownership of 447,125 common shares of Sylogist, representing approximately 2.5 per cent of the issued and outstanding common shares of the company. These purchases, combined with the previous acquisitions and dispositions since October of 2004, amount to, in total, 4.9 per cent of the issued and outstanding common shares of the company. Mr. Wilson now beneficially owns and controls 4,833,175 common shares of Sylogist, which represents 26.8 per cent of the issued and outstanding common shares of the company. Mr. Wilson's acquisitions were made on the open market through the facilities of the TSX-V and in some cases by private agreement, and all were made at the then market price of the common shares. All of the purchases were for investment purposes.
ENA on watch under a dollar, but be aware that a TD analyst has downgraded this one to .75.
Enablence shareholders pass all resolutions at AGM
2008-08-26 17:54 ET - News Release
Mr. Arvind Chhatbar reports
SUCCESSFUL DEMONSTRATION OF FULLY INTEGRATED FIBER-TO-THE-HOME SOLUTION AT AGM
Enablence Technologies Inc.'s annual general meeting was held at the Brookstreet Hotel in Ottawa, Ont., Canada, on Aug. 26, 2008, and was attended with representation from more than 54 per cent of the total shares outstanding at the meeting. All resolutions put before the shareholders passed at the AGM.
Enablence also successfully demonstrated a fully integrated fibre-to-the-home system relying solely on its broad complement of access products, including the optical line terminal, splitters and the optical network terminal built through its North American facilities.
In addition, Enablence had, on display, more than 50 products aimed at the metro and long-haul markets, which showcased its world-leading planar lightwave circuit (PLC) capability. The corporation also announced the creation of two committees -- the audit committee, with Steve Bower as chair and Nishith Goel and John Ryan as members, as well as the creation of the compensation committee, with Stephan Guerin as chair and with Mr. Goel as member, making it a committee composed of independent board members.
Arvind Chhatbar, chief executive officer, provided a corporate update after the formal portion of the AGM and added: "Enablence has never been stronger. Our breadth of products and expertise in PLC-based technology coupled with the delivery of FTTH solutions means that we are ready to deliver on the promise of improved bandwidth as carriers prepare for increased customer demand."
The audio recording of the Enablence Technologies annual general meeting will shortly be made available on the Enablence Technologies website.
CDN bank stocks are on the rebound. Scotia has made some major investment alliances in China. Others have had better than expected quarterlies
NT and MFI on radar for bounce, Nortel sooner than Maple Leaf
WTF happened to ITF (Freegold)?
Drop of gold is reflecting on our still commodity rich related economy.
As the US dollar gets stronger, as it has been doing recently, gold will continue to go lower. If US markets pick up speed nervous investors will bail on gold and other commodities and go back to more traditional plays like banks and blue chips.
Oil seems set to go sub $100 a barrel soon and yet the analysts were saying $200 was a possibility short term.
HOD is still one play to watch as is HGD.
Have a look at HND!!!!! Where was I when that was going from $6 to $17?
In general, I must say that predictions by analysts are not very reliable. They said the CDN dollar would be $1.10 and very stable and strong till mid 2009 and now they suddenly see the dollar weakening to low 90s.
Enablence Technologies appoints Bower as director
2008-08-11 13:11 ET - News Release
Mr. Arvind Chhatbar reports
ENABLENCE ANNOUNCE BOARD APPOINTMENT AND CREATION OF A COMPENSATION COMMITTEE
Enablence Technologies Inc. has appointed Steve Bower to the board of Enablence, and established a compensation committee. Mr. Bower is a chartered accountant and chief financial officer (CFO) of the Consumers Waterheater Income Fund.
With the addition of Mr. Bower there are now seven directors, of which four are not officers of the corporation. Mr. Bower will serve as the chairman of the audit committee. The compensation committee established by the board of directors comprises Stephan Guerin (chairman), Nishith Goel and John Ryan.
As announced in Stockwatch on Aug. 11, 2008, the board of directors granted options to employees to acquire a total of 4,342,000 shares of the corporation. These were granted to certain officers (1,242,000) and other employees (3.1 million). The options vesting schedule is in line with the employee stock option plan. The stock options have an exercise price of $1.15 per share, exercisable on or before Aug. 7, 2018. After these grants, four million common shares remain available for issuance under the company's stock option plan.
We seek Safe Harbor.
Bard hires Cronus to reap market research and services
2008-08-01 11:40 ET - News Release
Mr. Peter Soni of Chronus Capital Markets reports
BARD VENTURES LTD. RETAINS CRONUS CAPITAL MARKETS FOR STRATEGIC CONSULTING
Bard Ventures Ltd. has retained CCM Corporate Advisory, a division of Cronus Capital Markets Inc. (CCM), to assist the company with information-based strategies to increase market efficiencies and overall liquidity.
The services to be provided by CCM will include the production of various forms of research coverage through CCM Research (a division of Cronus Capital Markets), continuing media coverage, Web-based as well as live investor presentations, and distribution and dissemination of research reports. Bard will be paying $60,000 for these services over the next 12 months.
There is no prior relationship between Bard and CCM, nor is there any prior direct or indirect interest in Bard or its securities, or any right to acquire such an interest on the part of CCM.
HGD short on gold also looking pretty
Oil going down and I agree that this commodity will be down sub $100 by end of year if not earlier.
HOD is my play here on this.
HGD not too shabby either!
HOD looking good today!!
COV bounces at .85 back above $1
Huge seller for COV that may bring back this puppy back to the price I paid two years ago.
Very tempted to get back in soon ....
COV new 52 week low at .90 ... nothing has changed at the company as far as I know ... just nervous markets.
PXC fire sale today?
COV hits $1.10 so far. Under $1 should startgetting really interesting ...
HOD looking good as long as oil continues to fall!!
Goldsource Receives Additional Saskatchewan Coal Permits
VANCOUVER, B.C. June 26, 2008 – Goldsource Mines Inc. (the “Company”) announces that it has received an additional 121 coal permit certificates from the Saskatchewan Ministry of Energy and Resources. The receipt of these certificates completes the issuance of permits for applications which had received priority status confirmed by the Ministry in a letter dated May 21, 2008. The permits cover its recently announced Border property coal discovery near Hudson Bay, Saskatchewan. A total of 176 coal permits have been issued to the Company to date. The Company’s coal permits now comprise a total of approximately 135,100 hectares being an area of 1,351 square kilometres (see attached map). Approximately 7,000 hectares (70 square kilometres) originally applied for were not granted due to Crown Reserves, freehold interests and recreational areas. These exclusions are not in the initial target area, are on the periphery of the Border property and are not expected to impact the Company’s exploration plans. The area covered by the permits is centered on the two core drill holes which resulted in the discovery of the coal intercepts previously announced (news releases dated April 22 and April 28, 2008). The permits allow the Company to explore the area for coal for a period of one year with two possible 6 month extensions and are convertible to a 15 year lease.
The Company expects to commence its initial exploration drilling in the priority area shown on the map during the second week of July, 2008. This initial drill program will consist of seven holes which are designed to outline an optimum inferred resource, provide data on coal quality and assist in defining the orientation of the potential coal basins.
N. Eric Fier, CPG, P.Eng. and Qualified Person for this news release has reviewed and approved its contents.
This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company’s actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company’s control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of coal permits and mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in commodity product prices; currency fluctuations; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Followers
|
62
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
27200
|
Created
|
07/27/04
|
Type
|
Free
|
Moderator originunknown | |||
Assistants |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |